NASB Financial, Inc. Announces Financial Results

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May 12, 2022 1:53 PM EDT

KANSAS CITY, Mo., May 12, 2022 /PRNewswire/ -- NASB Financial, Inc. (the "Company") (OTCQX: NASB) announced today net income for the quarter ended March 31, 2022, of $8.8 million or $1.19 per share.  This compares to net income of $8.6 million or $1.16 per share for the quarter ended December 31, 2021, and compares to net income of $26.0 million or $3.51 per share for the quarter ended March 31, 2021.

Net income for the six months ended March 31, 2022, was $17.4 million or $2.35 per share.  This compares to net income of $52.6 million or $7.11 per share for the six months ended March 31, 2021. 

 NASB Financial, Inc. is a unitary thrift holding company for North American Savings Bank, F.S.B. ("NASB").  Since 1927, NASB has been serving the financial needs of customers by providing an array of personal banking and lending products in the Kansas City metro area.  Nationwide, NASB offers competitive residential and commercial mortgages with the safety and security of a Federal institution.  For more information, visit nasb.com.

(Financial Highlights Schedule Attached)

NASB Financial, Inc.

Financial Highlights

(Dollars in thousands, except per share data)

Three Months Ended

Six Months Ended

3/31/22

12/31/21

3/31/21

  3/31/22

  3/31/21

EARNINGS DATA:

Net interest income

$

20,942

22,348

24,631

43,290

50,329

Provision for loan losses

--

--

--

--

--

Non-interest income

18,153

22,339

48,046

40,492

94,735

Non-interest expense

27,677

33,345

39,272

61,022

76,510

Income tax expense (benefit)

2,599

2,720

7,438

5,319

15,909

     Net income (loss)

$

8,819

8,622

25,967

17,441

52,645

FINANCIAL CONDITION DATA:

Total assets

$

2,206,699

2,186,808

2,483,553

2,206,699

2,483,553

Total loans held for sale

166,625

360,836

681,268

166,625

681,268

Total loans held for investments and

    mortgage-backed securities, net

1,531,834

1,381,376

1,438,882

1,531,834

1,438,882

Customer and brokered deposit    

     accounts

1,357,520

1,348,531

1,569,122

1,357,520

1,569,122

Stockholders' equity

391,895

394,943

390,909

391,895

390,909

FINANCIAL RATIOS AND PER SHARE DATA:

Book value per share

$

52.90

53.29

52.80

52.90

52.80

Earnings per share

1.19

1.16

3.51

2.35

7.11

Cash dividends paid per share

0.85

0.75

0.75

1.60

1.30

Return on assets (annualized net income

     divided by total average assets)

1.61%

1.52%

4.09%

1.53%

4.18%

Return on equity (annualized net income

     divided by average stockholders' equity)

8.97%

8.75%

27.15%

8.88%

28.41%

Weighted average shares outstanding

7,409,460

7,408,720

7,406,069

7,409,086

7,403,046

 

Cision View original content:https://www.prnewswire.com/news-releases/nasb-financial-inc-announces-financial-results-301546438.html

SOURCE NASB Financial, Inc.


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